Any room for growth? Can anyone nominate a market ready for some growth.
- Thread starter always_learning
- Start date
I am always keen to hear about QLD growth spots....
Willair the reno kings mentioned Dutton Park also because of the bridge. I did some searches and there was nothing much for sale. Is it a tightly held area?
Does anyone have any thoughts on Morningside in Brisbane? I have only just started looking at this area but it seems surrounded by suburbs of significently higher prices (even away from the river) and you can still by house in low 300k. I have heard that there are some dodgy spots but that used to be said about a lot of inner city suburbs that have now "transformed".
"residex reports...matusik reports.....etc etc..." I think they can be helpful but certainly not the bible as to where to go next. I paid a valuer $500 for a report on an area I was considering investing in 18 months ago (doh!) thankfully I ignored his "proffessional advice" of "predicted average gains of 5-6% annually", and have more than doubled my measly $160k investment.....because everything else added up. By the way was in Bargara Beach.
What do you think QLD investors?
Carolyn
Willair the reno kings mentioned Dutton Park also because of the bridge. I did some searches and there was nothing much for sale. Is it a tightly held area?
Does anyone have any thoughts on Morningside in Brisbane? I have only just started looking at this area but it seems surrounded by suburbs of significently higher prices (even away from the river) and you can still by house in low 300k. I have heard that there are some dodgy spots but that used to be said about a lot of inner city suburbs that have now "transformed".
"residex reports...matusik reports.....etc etc..." I think they can be helpful but certainly not the bible as to where to go next. I paid a valuer $500 for a report on an area I was considering investing in 18 months ago (doh!) thankfully I ignored his "proffessional advice" of "predicted average gains of 5-6% annually", and have more than doubled my measly $160k investment.....because everything else added up. By the way was in Bargara Beach.
What do you think QLD investors?
Carolyn
Carolyn,
We are just looking at the overseas student rental market in this area,this bridge will change this area within a 5 klm radius of the bridge and i think open up this suburb to the students,as it is the western suburbs ,have that rental market till this bridge is open,
i looked at several today in this suburb one in west end ,2 bed old 50s house 270sm small block private sale only 270k,it does need work,but i looked at several today like that..
good luck
willair..
We are just looking at the overseas student rental market in this area,this bridge will change this area within a 5 klm radius of the bridge and i think open up this suburb to the students,as it is the western suburbs ,have that rental market till this bridge is open,
i looked at several today in this suburb one in west end ,2 bed old 50s house 270sm small block private sale only 270k,it does need work,but i looked at several today like that..
good luck
willair..
Sunshine VIC comment
Not Sunshine but I think St Albans (the poorer cousin) has potential.
I Bought IP 03/99 for 106K and valued 07/03 for 180k that’s 70% growth in 4 years, rental is $175. So an average of 15%. A lot of dual occ, development here due to progressive Brimbank Council.
Yes it needs trees but now has extension of cityrail to Watergardens Shopping Centre with stations at Keilor Downs and luxury estates being built only 10min. drive. Excellent highway and road links.
Bit of a pocket of down market that can only do better. Lots of rental demand due to social economic mix. Recently seen some large villa sites with approval on the market next to new stations. Affordable to get into so could be worth a look?
Peter (now Corolla, 147 got pranged by wife!)
Not Sunshine but I think St Albans (the poorer cousin) has potential.
I Bought IP 03/99 for 106K and valued 07/03 for 180k that’s 70% growth in 4 years, rental is $175. So an average of 15%. A lot of dual occ, development here due to progressive Brimbank Council.
Yes it needs trees but now has extension of cityrail to Watergardens Shopping Centre with stations at Keilor Downs and luxury estates being built only 10min. drive. Excellent highway and road links.
Bit of a pocket of down market that can only do better. Lots of rental demand due to social economic mix. Recently seen some large villa sites with approval on the market next to new stations. Affordable to get into so could be worth a look?
Peter (now Corolla, 147 got pranged by wife!)
Somewhere in Sydney ...try Redfern or the Cross.
For lots of comment re Redfern see thread
http://www.somersoft.com/forums/showthread.php?s=&threadid=10953 Redfern Update
Essentially South Sydney Council has moved next to the station where a lot of the problems are at, in an effort to act locally.
Also..Kings Cross... Sydney City Council has taken over the area and is committed to cleaning up the sleaze. Already popular with a number of older apartments.
But remember it Sydney so starting with studios from 150k and upwards.
Peter
For lots of comment re Redfern see thread
http://www.somersoft.com/forums/showthread.php?s=&threadid=10953 Redfern Update
Essentially South Sydney Council has moved next to the station where a lot of the problems are at, in an effort to act locally.
Also..Kings Cross... Sydney City Council has taken over the area and is committed to cleaning up the sleaze. Already popular with a number of older apartments.
But remember it Sydney so starting with studios from 150k and upwards.
Peter
So far people have been nominating suburbs that they feel have underperformed in relation to surrounding areas, but I'm suprised no one has mentioned the one region that has been mentioned on numerous times towards the end of last year , and that is...
The North Queensland Coast. If Rockhampton is not your sort of town , then there are three other major Centres in Mackay , Townsville and Cairns all of which have their own characteristics.
There there are a whole range of smaller towns , from the more expensive Coastal towns like Agnes Waters, 1770, Yepoon , Emu Park , Airlie Beach ( CannonVale is a cheaper alternative ), Bargara etc, to places like , Port Hinchinbrook ( Dual occ Waterfront block in Marina development ...) , Ayr .
See Change
The North Queensland Coast. If Rockhampton is not your sort of town , then there are three other major Centres in Mackay , Townsville and Cairns all of which have their own characteristics.
There there are a whole range of smaller towns , from the more expensive Coastal towns like Agnes Waters, 1770, Yepoon , Emu Park , Airlie Beach ( CannonVale is a cheaper alternative ), Bargara etc, to places like , Port Hinchinbrook ( Dual occ Waterfront block in Marina development ...) , Ayr .
See Change
Just a Sweet Little Footnote:
Some of you may remember my 'Sweet Little Post' from about July, 2003, where I told the story of my darling daughter opening her first rental cheque from the property manager:
She has just with great glee pointed out that the (Melbourne) "Outstanding recent performance - units (biggest % increase compared with regional growth) for 2003 is ... Ta-Da!! Kilsyth!!!
(Source: The Age January 11, 2004 Page 6 News)
So said dear little daughter, who had saved $4,000 deposit from weekend work at the supermarket and who was earning $6,000 per annum (increased that to $13,000 at the insistence of the Loans Officer) and who has sobbed occasionally during this year when nasty things like rates notices or plumbing repair bills have landed on her desk), is walking around with a grin from ear to ear proclaiming herself to be very clever!
We reckon she has 'earned' about $50,000 in growth this year, from a purchase of $136,000 on about 28th December, 2002.
The Cinderella suburbs are easy to pick. Watch for the sneering expression when you mention you are looking in a particular postcode. The more sneers, the quicker you should buy! (Only half joking)
Just thought I'd share that with you!
Kristine
Some of you may remember my 'Sweet Little Post' from about July, 2003, where I told the story of my darling daughter opening her first rental cheque from the property manager:
She has just with great glee pointed out that the (Melbourne) "Outstanding recent performance - units (biggest % increase compared with regional growth) for 2003 is ... Ta-Da!! Kilsyth!!!
(Source: The Age January 11, 2004 Page 6 News)
So said dear little daughter, who had saved $4,000 deposit from weekend work at the supermarket and who was earning $6,000 per annum (increased that to $13,000 at the insistence of the Loans Officer) and who has sobbed occasionally during this year when nasty things like rates notices or plumbing repair bills have landed on her desk), is walking around with a grin from ear to ear proclaiming herself to be very clever!
We reckon she has 'earned' about $50,000 in growth this year, from a purchase of $136,000 on about 28th December, 2002.
The Cinderella suburbs are easy to pick. Watch for the sneering expression when you mention you are looking in a particular postcode. The more sneers, the quicker you should buy! (Only half joking)
Just thought I'd share that with you!
Kristine
HI Kristine,
This is quite an intersting thread. I was thinking about your "sneer-o-meter" tactic and thought about which suburb would make me sneer most.
My first thought was Broadmeadows! (Hope that doesn't offend anyone ) Of course, some melbournians would probably nominate the suburb I just moved out of - Reservoir. Nice little capital gain there over the last year or so.
Anyone else have a suburb they'd like to nominate?
Sue
This is quite an intersting thread. I was thinking about your "sneer-o-meter" tactic and thought about which suburb would make me sneer most.
My first thought was Broadmeadows! (Hope that doesn't offend anyone ) Of course, some melbournians would probably nominate the suburb I just moved out of - Reservoir. Nice little capital gain there over the last year or so.
Anyone else have a suburb they'd like to nominate?
Sue
In relation to 'sneer-o-meter' ratings, places like Moe and Morwell spring to mind, even though there are some nice properties out there. Unfortunately when I looked last year the yields weren't high enough for me so I didn't buy.
But these places have already had enormous capital growth even though their population and jobs stats were weak. There may be some growth due to the fast rail, but I can see markets like these being somewhat volatile as there are no longer the high yields to attract the property investors there.
The suburbs that get sneers seem to be those associated with high unemployment (particularly double-digit).
But this would go against the conventional wisdom of buying in places where there is job growth or about to be job growth and declining vacancy rates.
Regards, Peter
But these places have already had enormous capital growth even though their population and jobs stats were weak. There may be some growth due to the fast rail, but I can see markets like these being somewhat volatile as there are no longer the high yields to attract the property investors there.
The suburbs that get sneers seem to be those associated with high unemployment (particularly double-digit).
But this would go against the conventional wisdom of buying in places where there is job growth or about to be job growth and declining vacancy rates.
Regards, Peter
